Nauru: Economy

The growth outlook for Nauru depends on the phosphate industry and activities supporting the Regional Processing Centre. Phosphate exports rose to 160,000 tons in Fiscal Year 2016 (ended 30 June 2016), up by 56.8% year on year, but remain deeply depressed because of damage to the moorings at Nauru’s seaport, its primary gateway for international cargo. Growth in FY2016 was in line with the forecast in March and, with the completion of port repairs, is projected to be much higher in FY2017, also as forecast earlier. Growth in domestic demand has been substantial in recent years but is expected to stabilize as government spending and activity at the Regional Processing Centre plateau. Inflation is projected to ease, as forecast earlier, in FY2016 and much further in FY2017 as growth in aggregate demand slows and port repairs end. Read more from Asian Development Outlook 2016 Update

Economic forecasts for Pacific countries

Country 2016 2017
Cook Islands 4.2 4.0
Fiji 2.4 4.5
Kiribati 1.8 1.5
Marshall Islands 1.5 2.0
Micronesia, Federated States of 2.0 2.5
Nauru 3.0 15.0
Palau 2.0 5.0
Papua New Guinea 2.2 3.0
Samoa 5.0 2.0
Solomon Islands 2.7 2.5
Timor-Leste 5.0 5.5
Tonga 3.1 2.6
Tuvalu 3.0 3.0
Vanuatu 3.5 3.8
Average 2.7 3.5
Country 2016 2017
Cook Islands 0.7 2.0
Fiji 3.5 3.0
Kiribati 0.7 2.0
Marshall Islands -1.3 1.0
Micronesia, Federated States of -0.3 1.5
Nauru 6.6 1.7
Palau 1.5 2.5
Papua New Guinea 6.5 7.5
Samoa 0.1 2.0
Solomon Islands 3.3 4.5
Timor-Leste 1.2 3.0
Tonga 2.0 1.9
Tuvalu 2.0 2.0
Vanuatu 1.9 2.4
Average 4.7 5.5
Country 2016 2017
Cook Islands 37.3 41.3
Fiji -7.0 -1.2
Kiribati -7.0 -2.6
Marshall Islands 10.0 8.9
Micronesia, Federated States of 3.8 2.0
Nauru ... ...
Palau -2.3 -1.3
Papua New Guinea 7.9 9.0
Samoa -3.9 -5.3
Solomon Islands -4.4 -6.1
Timor-Leste 36.1 10.2
Tonga -6.0 -7.6
Tuvalu -1.2 -18.7
Vanuatu -15.0 -13.5
Average 7.2 5.8

… = no data available.

Source: Asian Development Outlook 2016 Update

 

 
This page was generated from https://www.adb.org/countries/nauru/economy on 30 September 2016